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Understanding Industrial and Corporate Change$
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Giovanni Dosi, David J. Teece, and Josef Chytry

Print publication date: 2004

Print ISBN-13: 9780199269426

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199269426.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 16 October 2021

Economic Experiments *

Economic Experiments *

(p.287) Economic Experiments*
Understanding Industrial and Corporate Change

Nathan Rosenberg

Oxford University Press

This chapter compares capitalist and socialist economies from the perspective of the freedom to experiment as the hallmark of technological change. It argues that freedom to conduct experiments is essential to all societies committed to technological innovation or improved productive efficiency. Historically, capitalism has provided multiple sources of decision making and initiative, incentives for processing one step at a time, and the possibility for drawing upon a wide range of human potential. The result has been an extraordinary pattern of organizational diversity. Any serious effort to make socialist societies more amenable to technological change has only proved possible to the extent that such societies have been made more capitalistic.

Keywords:   capitalism, socialism, technological innovation, experimental freedom, organizational diversity

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